The GST Council on Friday met to fix the tax rates to be levied on services. Information from wire agencies seem to suggest that financial services as well as telecom services will attract a service tax of 18 per cent and restaurants in 5-star hotels will face the highest tax slab of 28 per cent.

The era of Goods and Services Tax (GST) is all set to begin from 1st July 2017. GST is expected to boost the Indian economy in a similar way that liberalization had done 26 years back. No power on earth can stop an idea whose time has come, Manmohan Singh had quoted Victor Hugo while presenting the Union Budget on 24th July 1991. It would not be an exaggeration to say that future generations may look back at GST law as a watershed moment for India, which propelled her to newer heights of growth Read more..